Construction projects make up a large portion of the GEFF portfolio in Georgia. Since 2019, GEFF has financed several residential and office buildings, hotels and guesthouses in the country. Financing via the GEFF implies a minimum 20% energy efficiency, thanks to the high-performance technologies used in GEFF-financed construction projects. Windows and doors, insulation, energy-efficient heating and cooling systems, lightings, elevators, etc., purchased with GEFF financing ensure that residential complexes and office buildings consume less energy, which means lower utility payments throughout the year.
Now, GEFF in Georgia is granting development companies the opportunity to show their commitment to sustainability while attracting environmentally conscious tenants, investors and partners.
From May 2023, the Facility will be issuing building assessment documents to all construction projects that meet pre-defined GEFF criteria. The methodology was developed by GEFF engineers who analysed the current and anticipated requirements for construction projects in Georgia. The assessment takes into account the U-values (rate of transfer of heat through a structure) for walls, floors, roofs, windows and doors, and is adapted to Georgia’s three climatic zones.
Benefits for developers. Obtaining an assessment that signifies adherence to energy efficiency standards demonstrates a company’s commitment to sustainability and environmental responsibility, thus improving its public image and reputation. In an era where consumers are likely to prioritise eco-friendly businesses, this can be a crucial competitive advantage, attracting environmentally conscious clients and partners.
Another boost for a company’s reputation is having a certified assessment from a well-established institution that aims to “green” the majority of its business by 2025. EBRD has long committed to greening its portfolio and continues to provide financing for environmentally friendly technologies and green projects throughout the world. A GEFF assessment is one of the ways the EBRD ensures that financed buildings meet its rigorous environmental standards.
Unlike many others, a GEFF assessment is free of charge. Expert engineers evaluate the whole building, looking at various parameters, and calculate its energy consumption along with the energy-efficiency class it falls under.
Benefits for building users. Living and working in energy-efficient buildings has many advantages. An energy-efficient heating and/or cooling system consumes less energy, triple glazed windows ensure no heat escapes in winter, and the building stays cool in the summer. All of this results in lower utility charges each month, decreasing the overall cost of living or working – translating to long-term financial savings and improved affordability.
Furthermore, energy-efficient buildings often improve indoor air quality and occupant comfort by means of efficient ventilation systems, natural lighting and the use of low-toxicity materials. This creates a healthier and more comfortable living or working environment, enhancing productivity and overall well-being.
Lastly, the resale value of an energy efficient home is higher than its traditional, inefficient equivalents.
For details on GEFF’s new green mortgage initiative, please feel free to contact our team.
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